Why 40-somethings never had it so good

It's the detail of their journey: the stark contrasts of landscape and the distance they have travelled. This generation was in its 20s when liberalisation opened up the economy and the first boom cycles occurred. Their personal growth mirrored the fast-paced expansion. In the same time frame, they saw more than the current 50 somethings did or the 30-somethings will — nascent industries, new job profiles, higher salaries, bigger assets and new measures of respectability.

Prakash As a result, many of them have built large financial cushions, larger from their perspective as they don't necessarily contextualise wealth with today's benchmarks. Admits Prakash, 48, an ex-senior manager at HDFC: "I was at a career dead end and staring at 6-7 years in the same designation. So I decided to move on, but it would have been impossible without the backing of my investment portfolio."

Prakash invested in property before the boom period of 2003-08. The real estate now generates enough rental income to take care of his family expenses. "Anyone who put in money at that time pocketed huge returns. My friends often discuss how lucky we were that the boom happened when it did — we had saved enough money to invest and build something substantial, " he says.

Now a real estate adviser, Prakash can afford to think beyond money: "It is only a small part of my motivation. I enjoy other aspects of life more — spending time with the kids and working with 20- and 30- something, energetic clients."

The Fire Within

When the going is as comfortable as it was for Prakash, Barot and Mathur, pushing the brakes is not easy. Just because you can do something is not enough reason to do it. The final push must come from within.

Ishita Swarup "One can pretend it is easier but it isn't," says Ishita Swarup, CEO and co-founder, 99labels.com. Swarup, 44, is a serial entrepreneur who launched 99labels.com in December 2009. She sold her first company, Orayon Dialogue, after 11 years and took a year's sabbatical for social work before she thought of the fashion portal.

"I don't hail from a business family. But I am hardwired to love things with unpredictable, unknown outcomes. So when the e-commerce idea came up, I gave in to the temptation," she says. Was she able to rekindle the ardour of her younger days?

"Not really. At the time, I would jump into things headlong, do multiple things at once. I can't recreate the old Ishita," she says. It hasn't proven necessary either. In fact, turning back the clock could prove counter productive: "Some decisions of my first stint as entrepreneur seem foolish in hindsight. I wish 10 years ago I could have applied what I now know about people and business."

How different is the boss of the 40s from the boss of the 20s? Swarup takes time to answer: "I understand people better now. That has helped me build a great team. I also deal with bumps better. Earlier, I acted as though bad phases of life never end. Now, I am calmer. And very particular about work-life balance. Gone are the days, when I could sleep at office. Today, a vacation every quarter is a must."

Swarup's example is special. Her past, warts and all, is an asset that helps her optimise the use of her age-induced limitations she is candid about. Newly minted entrepreneurs in their second career stints don't have that advantage. Without the natural vitality, freshness and tirelessness of youth that glosses over blunders of first timers, isn't grey-haired entrepreneurship doomed to fail?

Alok Mittal, managing director of Canaan Partners, a venture capital firm, dismisses the idea: "Forty somethings bring distinct advantages to the table. For instance, they identify the most appropriate industries for their start-ups. In the tech space, they are likely to set up outsourcing and software companies that leverage their experience and networks. Entrepreneurs in their 20s gravitate towards 2.0 companies."

According to the Kauffman Index of Entrepreneurial Activity Interactive 2011, 45% of US-born tech founders are 35-44 years old. The 25-34 set comes a distant second, at 26%. A Mark Zuckerberg may make for a sexier headline, but the salt-and-pepper haired are the ones who keep the volume of ideas ticking.

What The Heart Wants

But how do you face the start line again? At that point, nothing is guaranteed. Courage may fail you, or stamina, or the peer pressure to excel. You don't know you'll last the distance you set to cover. Those who are not at this stage in life can't imagine the mental strength required to let go of the fear built over two decades. Also hubris — for a beginner mustn't find comfort in past successes.